| Buying a Home - the initial offer
Buying
a Home - How do I determine the initial offer?
Unless
you have a buyer's agent, remember that the agent works for the seller.
Make a point of asking him or her to keep your discussions and information
confidential. Listen to your real estate agent's advice, but follow your
own instincts on deciding a fair price.
Calculating
your offer should involve several factors:
- What
homes sell for in the area.
- The
home's condition.
- How
long it's been on the market.
- Financing
terms.
- The
seller's situation.
By
the time you're ready to make an offer, you should have a good idea of
what the home is worth and what you can afford. And, be prepared for
give-and-take negotiation, which is very common when buying a home. The
buyer and seller may often go back and forth until they can agree on a
price.
>> Learn how an earnest money
deposit is used when buying a home
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